Nvidia stock up 2.81% after CEO calls AI 'iPhone moment'

NVIDIA Corp NVDA shares are moving higher Wednesday after the company's GPU Technology Conference GTC Several analysts raised price targets on the stock following the event.

What To Know: Nvidia CEO Jensen Huang referred to the recent acceleration of artificial intelligence as the iPhone moment for AI during the event on Tuesday.

Nvidia has partnerships with big tech companies and outlined how it will provide the necessary framework for the AI boom.

In the age of AI, cloud data center infrastructures must support extraordinary computing requirements, according to Huang during his presentation.

Mizuho maintained a Buy rating and raised the price target from $230 to $290.

Nvidia's stock is up over 100% in 6 months. Cramer says Wait For The 'Unimaginable'

NVDA Price Action: Nvidia has a 52 week high of $289.34 and a 52 week low of $108.14.

The stock was up 2.81% at $269.36 at the time of publication, according to Benzinga Pro.